[5-DayForum] Using a Realtor

[Paul Forste]

Tom,

It's probably going to go 100% according to your expectation.  Your realtor 
is your friend and no doubt is working in your best interest.  Don't allow 
me to stir things up.
I just like to get these details out in the open for everyone to look at. 
To my eyes that 4% is maybe a point or two above what the service is really 
worth, but your friend is certainly not gouging you by the standards set for 
her by her industry. Most of the big Rs, I think, would have healed out for 
the full 6, friend or no friend.

Paul Forste
student of 5-Day
Teaneck, NJ


----- Original Message ----- 
From: "THOMAS KEATON" <keaton9321 at msn.com>
To: <5-dayforum at mailman.howtosellyourhomein5days.com>
Sent: Thursday, May 31, 2007 9:26 PM
Subject: Re: [5-DayForum] Using a Realtor


> Paul:
>
> Thanks for your response.  I am embarrassed to say that we do not have a
> copy of our contract with our realtor.  I asked my wife for our copy and 
> she
> said we do not have it.  Our realtor and my wife are good friends and when
> we were setting up the sale back in January, they were talking back and
> forth and everything was arranged.  I remember signing all the papers and
> getting everything going.  My wife handles all the business for our family
> and I did not get in the middle of all this.  I just wanted the bottom 
> line
> and to know that things were started.  I am not blaming my wife.  I should
> have insisted on seeing everything before our move back here to Kentucky.
> What I do know is that her commission is 4%.  We will contact our realtor
> tomorrow for a copy of the contract and I can then answer your other
> questions.
>
> When I spoke with our realtor earlier today she said that to get this 
> 5-day
> process going she will have to remove us from the MLS.  I gues this then
> allows us to use whatever method we chose to sell the house with her help.
> I will know more in the next couple of days how all this is going to work.
> Again your and everyone elses help is much appreciated.  I will get 
> answers
> tomorrow.
>
> Tom Keaton
>
>
>>From: Paul Forste <paul5 at anyol.com>
>>Reply-To: How To Sell Your Home in
>>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>>To: How To Sell Your Home in
>>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>>Subject: Re: [5-DayForum] Using a Realtor
>>Date: Thu, 31 May 2007 19:11:11 -0400
>>
>>Tom,
>>
>>This is very illuminating.  Are you signed onto any sort of listing
>>contract
>>document for these service? What rate of commission are you obligated for,
>>3%?  Is she saying a co-op would accept a cut of that?  Maybe they would
>>when working with another pro, not a seller?
>>
>>Paul Forste
>>student of 5-Day
>>Teaneck, NJ
>>
>>
>>
>>----- Original Message -----
>>From: "THOMAS KEATON" <keaton9321 at msn.com>
>>To: <5-dayforum at mailman.howtosellyourhomein5days.com>
>>Sent: Thursday, May 31, 2007 2:58 PM
>>Subject: Re: [5-DayForum] Using a Realtor
>>
>>
>> >I spoke with our realtor yesterday and told her that I was concerned
>>about
>> > the lack of activity on our home sale in Washington.  I asked her in 
>> > all
>> > honestly do you think we will get what we are asking for our home.  She
>> > said
>> > no.  I then said what do you think is a reasonable price for our home.
>>We
>> > are currently asking $464,500 for our home on land.  She said that it
>>was
>> > going to have to be less than $400,000 to sell.  I told her thatis what
>>I
>> > wanted to know.  I said that this process of incrementally dropping our
>> > price for months and months until we get to that number less than
>>$400,000
>> > is a waste of time.
>> >
>> > I told her that there is this method that my wife and I want to use of
>> > selling our home in 5 days.  I told her that we would use this method 
>> > if
>> > our
>> > home does not sell during the period of her contract.  I told her that 
>> > I
>> > would like to work with her if she is amenable to it and use this
>>method.
>> > I
>> > told her the gist of the method and about the book.  I told her about
>>the
>> > forum.  She has gone to the forum and read some.
>> >
>> > I just spoke with her on the phone today and she is amenable to working
>> > with
>> > us using this 5 day method.  My wife and I want to sell our home out
>>there
>> > since we are now paying for 2 homes.  Our current new home is in
>>Kentucky
>> > near family.  We are 2,700 miles from our home in Washington.  It will
>>be
>> > worth it to us for her to act as our surrogate there.  I will 
>> > coordinate
>> > with her on everything that has to be done on her end.  I will have her
>> > place the ads for us, except craigslist.  Our cell phones are still
>>local
>> > to
>> > that area so I will handle all calls.  She will arrange to have the 
>> > best
>> > home inspector in the area conduct an inspection.  She will be there to
>> > conduct the 5-day inspection of the home by those who respond to the 
>> > Ad.
>> > She will have all the handouts ready and collect the bids.  At the end
>>of
>> > that she will fax all the bids to us.
>> >
>> > It is worth it to us to not have to fly out there to conduct all of
>>this.
>> > When it comes time to close with the highest bidder, she will conduct
>>that
>> > in her cqapcity as our realtor.  She will get a commission but there
>>will
>> > be
>> > no buyer realtor commission.  Anything on the part of any buyer
>> > commissions
>> > is their responsibility.
>> >
>> > I want to go through this process to sell our home at the fair market
>> > value
>> > now.  I dont want to have to incrementally decrement the value over
>>months
>> > and months until we finally converge on a value that will sell.
>> >
>> > I would appreciate feedback from folks here on my proposed plan.
>> >
>> > Tom Keaton
>> >
>> >
>> >>From: Bill Effros <bill at effros.com>
>> >>Reply-To: How To Sell Your Home in
>> >>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>> >>To: How To Sell Your Home in
>> >>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>> >>Subject: Re: [5-DayForum] Using a Realtor
>> >>Date: Thu, 31 May 2007 00:20:01 -0400
>> >>
>> >>Chip,
>> >>
>> >>Realtors can "sell your home for you" people without real estate
>>licenses
>> >>can't do that.
>> >>
>> >>If you want to use the 5-Day Method, hand your Realtor your copy of the
>> >>book and tell her you want to try this technique, and you want her to 
>> >>do
>> >>that for you.
>> >>
>> >>If she has any questions, just tell her to come on this Forum.  There
>>are
>> >>plenty of people with real estate licenses on the list who will help 
>> >>her
>> >>get started.
>> >>
>> >>Bill Effros
>> >>
>> >>
>> >>
>> >>Chip Fields wrote:
>> >>>In what ways can I employ a Realtor to help me with this?  I feel I
>>have
>> >>>an obligation to use the realtor who found this house for me, because
>>she
>> >>>went above and beyond what she had to do.
>> >>>  Chip Fields
>> >>>------------------------------------------------------------------------
>> >>>
>> >>>_______________________________________________
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>> >>>
>> >
>> >
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>> >
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